Italy's Agnelli family will invest 833 million euros ($865 million) through its holding company Exor to buy a 10% stake in French privately-held healthcare group Institut Merieux, the companies said in a joint statement on Friday.
The deal marks the first major international move into the healthcare business for Exor, which will soon have 9 billion euros ($9.6 billion) to invest after the closing of the sale of Bermuda-based reinsurer Partner Re, expected soon.
Exor will acquire the stake in Institut Merieux - which controls five companies in different healthcare businesses, including Paris-listed bioMerieux - through a reserved capital increase.
The deal is expected to be completed during the summer.
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